2021 Form 1116 Schedule B (carryovers) can't efile

[Taxachusetts]

@HK-NYCThank you that's very helpful! I've also wondered whether the possibility of malware embedded in uploaded PDFs from users' computers means that Intuit also has to implement new security on their side of TT because previously only text-based entries were allowed. 

[FNmunoz]

Thanks for the detailed response based on your investigation. I'm in agreement in waiting a few days.

[Hugo66]

Nope, tried that already. Once you get to 1116 Schedule B it says you need to sign up for a tax advisor to finish the taxes for an additional $89. But I think they can e-file it for you then.

[Noel860]

The IRS is accepting Form 1116  schedule B efiled.   I gave up on TurboTax today and will never use them again.  I switched to OLT to file my return.  I was able to efile using OLT and my return included Form 1116 Schedule B and the IRS accepted my  forms.     

[rifi]

Hugo66

New Member

21m ago

“Nope, tried that already. Once you get to 1116 Schedule B it says you need to sign up for a tax advisor to finish the taxes for an additional $89. But I think they can e-file it for you then.”

Is that so - can you kindly provide a screen copy?

[bogalur_native]

Thank you for this useful post. Please see this link from Turbo Tax:

https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

As of now, Form 1116 Schedule B - available date 03/31/2022; e-filing: unsupported;

Would you able to communicate with your contact & see TT commits to supporting to e-filing?

Thanks a bunch; if other vendors support e-filing, it is not good for TT users? Really a bad situation for TT users.

[Hugo66]

That was intended as a reply to the H&R block question a few messages up. So basically on H&R block you have to sign up for a tax advisor to get your 1116 sched B done and taxes filed.

On TaxAct you have to fill out your own sched B and add it to the return.

[bogalur_native]

Sorry Hugo66; Thank you. I replied to talltodd's post. It looks like that when we reply to given post, the reply is not tagged to the particular post for which the reply is being made. Not sure what we should do now with this Form 1116, Schedule B hiccup?

1. Do not take a foreign tax credit - use a deduction - not a good option in most instances?

2. Find a way not to carry over the credits. Not sure what problems would pop up in 2022 & beyond?

3. Wait till 3/31/22 & hope for the best ! Trust TT finds a way to add a pdf & users would be able to e-file the return.

Not a good situation.

[Relaxed_Duck]

So has anyone figured out if we can just zero out the carryover entries this year so we can file , electronically, and then add them back next year, for the appropriate years, with the hope that the IRS has their act together and will accept electronic filing of 1116 B?

[LV_Dave]

Relaxed_Duck,

   Yes, I figured out how to e-file.   Go to Forms.   Find Form 1116 in the list of forms.  Right below it is 1116 Comp Wks.  Click on it and scroll to its last page.  There you will see an entry in red, called Carryover to 2022.   Right click with your mouse in the entry and choose the Override option in the pop-up list.   Now you can change whatever number is in there to 0.   Then TT allows you to e-file.  I just did that, and best of all, I just received the email notification from TurboTax that my Federal Tax Return has been accepted!!   Yippeeee.....  (I did not want to await some pie-in-the-sky, unknown-time-of-resolution from TT regarding this 1116 Sch B, and I figure that since I plan to never claim the carryover amount, the IRS should not care.  If they do, I guess they'll make me paperfile the Sch B.)    IMHO, this is already pathetic enough that TT made us wait till March 3 to include Form 1116 in their software.   Really, really bad!

Anyhow, good luck with it!

[LidaF]

It's March 3, and I think the Form 1116 is still not working properly.  It didn't pull data, I had to manually key it in, and I got the same message about not being able to E-File.  I don't have a carryover or an amount on line 10.  Every year TurboTax gets harder for me to use and I was an accounting executive.  If they can't get this fixed and I end up having to mail in my return this year, it will be my last time using TurboTax!

[AKCO]

To TurboTax developers: How about handling Form 1116 Sch B (as a PDF file) in the same manner as a 1099-B PDF file when adjustments are entered manually?

At least for the Online Premier product, I can select: Add investments > Enter a different way > Stocks: 1099-B > Sales section totals.
If I check "I need to adjust my total cost basis", then one option is to upload the 1099-B PDF file. So there is existing software that can send an uploaded PDF file to the IRS.

TurboTax is already committed to have Form 1116 Sch B available for Print by 03/31/2022, so TurboTax will be able to generate a PDF file by then. For the Online Premier product, why not just adopt the existing software to effectively upload the Form 1116 Sch B PDF file and send it to the IRS like 1099-B?

(For the CD/Download Premier product, for 1099-B, I can select: Add More Sales > I'll type it in myself > I'll enter a summary for each sales category.
If I check "I need to enter amounts from box 1f, box 1g, or other adjustments", I then have the option to still e-file but mail in the 1099-B along with Form 8453. However, the problem is that Form 8453 does not support Form 1116 Sch B.)

[Mike9241]

if you can't e-file the federal because of program limitations, despite what you may think NY says, you can mail in your state return.

[turbokarst]

This is the solution... as pointed out TTax can attach a pdf and this doc from IRS specifically says what that form 1116B must be called.  Either the customer can do a bit of study and download/fill in/rename the doc and then attach as soon as TTax ports the pdf attach functionality.. should take a week for a competent company.  The data you need in already in the form 1116 worksheets.

A more detailed job would be for TTax to take that data and put it onto the pdf as part of a post-processing step as part of the efile process.  Maybe that would take to end of month.

I've already downloaded and filled in my form 1116B so I'm ready to go if they figure out this attach process

Filing 1116 Sch B in pdf form is explicitly authorized by the IRS technical guide for e-filing. www.irs.gov/pub/irs-pdf/p4164dot pdf

[Sway85]

I just went back and found that exact selection and it also allowed me to proceed with the (e-file) option. I also wonder if my Foreign Tax Credit from previous year(s) will be zero. The selection doesn't state that you forfeit your tax credit...it states that "You agree NOT to use them THIS YEAR". With that I fully expect all my data to remain for next year.